Walmart has acquired San Francisco-based advertising technology startup Polymorph Labs for an undisclosed amount to help it "expand in-house ad technology" as it tries to monetize its shopper data on a grander scale.
The retail giant has been quietly scaling up its in-house advertising business, Walmart Media Group, and recently consolidated ad sales for its stores and websites in an effort to compete with Amazon. Walmart has announced it will be primarily using Polymorph Labs' technology to help it develop its online digital ads.
"Polymorph's technology, which includes a high-speed ad server, a self-serve interface and server-side header bidding, will make advertising with Walmart easier for thousands of brands while delivering more relevant digital ads to consumers," stated Walmart in a press release. "This technology complements Walmart's current omnichannel ad targeting and measurement solution, and will provide a platform for continued future innovation, such as real-time auctions across multiple ad-pricing models (cost per click, cost per impression, cost per conversion)."
The new technology will enable advertisers on Walmart Media Group to onboard quickly, select audience segments based on shoppers behavior data, automate ad delivery and then measure any influence the ads had on a sale.
"Ultimately, the acquisition of Polymorph technology will enable both existing and new advertisers to control their ad spending with us and reach their desired audiences more effectively," added Walmart. "We're thrilled to have the talented team at Polymorph Labs join Walmart Media Group to help us do just that."
